Improving healthcare for all

Fundraising in May 2022: The insurtech Alan working in the health care system in France closes a record €183 million transaction

28 Jun 2022

Alan is targeting 3 million users by 2025

A year ago, the health insurance company working in the French health system founded in 2016 attained the status of unicorn. Since the announcement of a new round of financing of €183 million on May 5, 2022, its valuation has doubled and now stands at €2.7 billion. The fundraising was carried out by the Teachers’ Venture Growth fund, with the participation of Temasek, Index, Coatue, Ribbit Capital, Exor, Dragoneer and Lakestar. 

By 2025, the scaleup intends to go from the current 300,000 users to 3 million, to hire 1,000 new employees and achieve profitability. With operations in France, Belgium and Spain, Alan is also keen to consolidate its positions on these international healthcare markets.

€1.8 million to improve post-operative care using HoopCare’s AI

On May 5, 2022, the Parisian startup HoopCare, previously Intelligence Anesthesia, announced a seed fundraising of €1.8 million. This round table was carried out by Newfund Capital, the Mutuelle d’assurances du corps de santé français (MACSF) and a number of business angels. The questionnaire developed by the startup assesses patient care profiles and risks before surgery to optimize post-operative management. This financing aims to accelerate the deployment of its solution in French and American medical institutions.

First fundraising for StromaCare: €1.5 million

The Lyon-based biotechnology company founded in 2020 announced on May 9, 2022 that it had raised €1.5 million from Sham Innovation Santé (advised by Turenne Groupe), Kréaxi, and Crédit Agricole Création. The company is developing a new oncology therapy based on immuno-modulation of the tumor stroma using a monoclonal antibody. StromaCare reactivates CD8 T cells and allows them to reach and act on the tumor and facilitate the action of other therapies.

Domain Therapeutics pharmaceutical sector company raises €39 million for immunosuppression

Founded in 2010, the Alsace-based bio-pharmaceutical company specializes in the development of best-in-class and first-in-class immuno-oncology drugs. On May 10, 2022, it closed a series A funding round of €39 million led by Panacea Venture, CTI Life Sciences and 3B Future Health Fund, alongside adMare BioInnovations, Schroder Adveq, Omnes Capital, Turenne Capital, Theodorus, Viva BioInnovator and Seventure Partners. This fundraising is intended to accelerate the clinical development of treatments against G protein-coupled receptor (GPCR)-induced immunosuppression mechanisms for cancer patients.

 The eureKING health care SPAC goes public

After having raised €150 million, eureKING is the first French SPAC (Special Purpose Acquisition Company) in the healthcare sector dedicated to bioproduction to be listed on Euronext. The listing was carried out on May 11, 2022, following the admission to trading and direct listing of 15,000,000 preference shares and 15,000,000 of common share purchase warrants. The investment was made to qualified investors, for an amount of €10 per unit. 

EureKing is allowing itself 15 months to buy a biopharmaceutical manufacturer with an enterprise value of €200-€500 million before being liquidated. The SPAC was founded in March 2022 by the investment company EureKare.

Therapixel raises €15 million in series B

Founded in 2013, Therapixel is a software publisher specialized in artificial intelligence applied to medical imaging companies. Its flagship product, MammoScreen, provides intelligent reading of mammograms. The €15 million fundraising round made public on May 12, 2022 is to be used to strengthen its commercial presence in the U.S. and to add features to the MammoScreen platform. The round table was led by Crédit Mutuel Innovation and CapHorn and joined by Verve, Sham Innovation Santé, Omnes, IT-Translation, M-Capital and Région Sud Investissement.

Cegedim Santé raises €65 million and acquires tele-medicine company MesDocteurs

On May 16, 2022, the Cegedim Group (founded in 1969) announced that it had signed an investment protocol and a strategic industrial partnership with Malakoff Humanis, VYV and Pro BTP for their entry into the capital of its subsidiary Cegedim Santé, which is supported by a €65 million investment and the acquisition of MesDocteurs (owned by VYV) by Cegedim Santé. The three entities will therefore hold 18% of the capital of Cegedim Santé in return. This transaction should accelerate its growth and the development of solutions and services for professionals working in health centers and their patients. 

 Moka.care: €15 million raised for mental health in businesses

On May 24, 2022, Moka.care announced a series A fundraising of €15 million, carried out with Left Lane Capital, Singular and football world champions Blaise Matuidi (via the Origins fund) and Antoine Griezmann.

The startup founded in 2020 has become the specialist in mental health issues at work. It is already working with about a hundred businesses, of all sizes, in close collaboration with human resources. After identifying their needs, an action plan was put in place (training for managers, brainstorming workshops, sessions with psychologists for employees, etc.).

Ouihelp raises €30 million to provide better support for elder care at home

Ouihelp‘s algorithm is used to find the caregiver best suited to the needs of the elderly and/or dependent person (household help, night presence, companionship, assistance with shopping, grooming, etc.) and to find a replacement at a moment’s notice in case the carer is withdrawn. On May 25, 2022 the company, which was established in 2016, made public a fundraising of €30 million carried out with Creadev, Future Positive Capital and XAnge. This operation is expected to finance the opening of new branches in France (increasing to 200) and the recruitment of 300 new employees by 2026.

Cathay Capital launches Cathay Health and raises €500 million

Cathay Health was officially created on May 25, 2022. Its current cash position of €500 million allows the new global healthcare fund to support innovative, early-stage startups in Europe, North America and Asia. Cathay Health focuses on life science tools, diagnostics, clinical trial innovation, advanced therapeutics, new models of patient care and next generation medical devices and materials. It was supported by Bpifrance, AXA and the Pierre Fabre Group.

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